BEIJING, Feb. 23, 2022 /PRNewswire/ -- Luokung
Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a
leading spatial-temporal intelligent big data services company and
provider of interactive location-based services ("LBS") and
high-definition maps ("HD Maps") in China, today announced that its operating
affiliate eMapgo Technology (Beijing) Co., Ltd. ("EMG"), a leading provider
of navigation and electronic map services in China, has begun providing mapping services
for two new Ford Motor Company ("Ford") vehicle models—the Ford
EVOS and Mustang Mach-E—both of which are equipped with Ford's
BlueCruise active drive assist system ("BlueCruise"). The Ford EVOS
is an upper midsize SUV, and the Mustang Mach-E is Ford's first
all-electric SUV. Both vehicle models are sold in the Chinese
market. EMG is currently providing mapping services for BlueCruise
installed on these two vehicle models.
BlueCruise supports L2 autonomous driving function as defined by
SAE International. When activated, the system automatically
determines whether the vehicle can operate the BlueCruise system
under current road conditions, and notifies drivers on the
vehicles' instrument panel. The driver status monitoring system
then starts monitoring drivers' observation of traffic in real time
and provides warnings and alarms when necessary. BlueCruise also
integrates full-speed adaptive cruise (with stop and go automatic
follow-up function) and lane centering assistance, as well as
acceleration, deceleration and steering control as part of its
active driving assistance, to help relieve the stress of long
drives and improve driving safety.
EMG's mapping services for the Ford BlueCruise system cover the
majority of highways and city expressways in mainland China and utilize over-the-air ("OTA")
technology to perform updates to provide technical reliability
support for BlueCruise.
Mr. Xuesong Song, Luokung's
Chairman and CEO, stated, "We are excited that EMG's mapping
services are being integrated into the BlueCruise system on two of
Ford's new smart vehicle models. Ford is a leading international
automaker known for its excellence in providing high-quality and
innovative vehicles to its customers, and we believe their use of
EMG's mapping services validates the quality and advanced
capabilities of our product. We look forward to expanding upon this
partnership with Ford and exploring other opportunities with top
automakers looking to strengthen their assisted driving
technologies."
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies
and expertise in HD Maps and multi-sourced intelligent
spatial-temporal big data, Luokung established city-level and
industry-level holographic spatial-temporal digital twin systems
and actively serves industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among others).
The Company routinely provides important updates on its website:
https://www.luokung.com.
ABOUT EMAPGO
eMapgo, a variable interest entity ("VIE") of Luokung, is a
leading provider of navigation and electronic map services in
China, as well as a leading
provider in Internet map services, geographic information system
engineering and other A-level mapping qualifications. EMG possesses
the National Class-A qualification certificates of navigable
Surveying and Mapping, and actively develops autonomous driving and
HD Map services. In March 2021,
Luokung closed on the acquisition of EMG through the purchase of
the equity interests of Saleya Holdings Limited, which, through a
series of contracts between its wholly-owned subsidiary DMG
Infotech Co., Ltd. and EMG, made EMG Luokung's VIE. For more
information, please visit EMG's website: www.emapgo.com.cn.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains certain forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding our or our management's expectations, hopes,
beliefs, intentions or strategies regarding the future and other
statements that are other than statements of historical fact. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate", "believe", "continue", "could",
"estimate", "expect", "intend", "may", "might", "plan", "probable",
"potential", "should", "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's
examination and analysis of the existing law, rules and regulations
and other data available from third parties. Although we believe
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you the statement herein will
be accurate. As a result, you are cautioned not to rely on any
forward-looking statements.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com
Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com
View original
content:https://www.prnewswire.com/news-releases/luokung-affiliate-emapgo-provides-mapping-services-for-ford-smart-vehicles-301488045.html
SOURCE Luokung Technology Corp.